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Business Segments
 3 Months Ended
Mar. 31, 2021
Segment Reporting [Abstract]  
Business Segments Business SegmentsValley has four business segments that it monitors and reports on to manage Valley’s business operations. These segments are consumer lending, commercial lending, investment management, and corporate and other adjustments. Valley’s reportable segments have been determined based upon its internal structure of operations and lines of business. Each business segment is reviewed routinely for its asset growth, contribution to income before income taxes and return on average interest earning assets and impairment (if events or circumstances indicate a possible
inability to realize the carrying amount). Expenses related to the branch network, all other components of retail banking, along with the back office departments of the Bank are allocated from the corporate and other adjustments segment to each of the other three business segments. Interest expense and internal transfer expense (for general corporate expenses) are allocated to each business segment utilizing a transfer pricing methodology, which involves the allocation of operating and funding costs based on each segment's respective mix of average earning assets and/or liabilities outstanding for the period. The financial reporting for each segment contains allocations and reporting in line with Valley’s operations, which may not necessarily be comparable to any other financial institution. The accounting for each segment includes internal accounting policies designed to measure consistent and reasonable financial reporting and may result in income and expense measurements that differ from amounts under U.S. GAAP. Furthermore, changes in management structure or allocation methodologies and procedures may result in changes in reported segment financial data.

The following tables represent the financial data for Valley’s four business segments for the three months ended March 31, 2021 and 2020:
 Three Months Ended March 31, 2021
 Consumer
Lending		Commercial
Lending		Investment
Management		Corporate
and Other
Adjustments		Total
 ($ in thousands)
Average interest earning assets
$7,049,252 $25,533,227 $4,803,740 $—$37,386,219 
Interest income$60,845 $252,336 $19,509 $(892)$331,798 
Interest expense6,415 23,235 4,371 5,11039,131 
Net interest income (loss)54,430 229,101 15,138 (6,002)292,667 
(Credit) provision for credit losses(2,635)11,676 (385)—8,656 
Net interest income (loss) after provision for credit losses
57,065 217,425 15,523 (6,002)284,011 
Non-interest income13,685 7,713 2,331 7,50431,233 
Non-interest expense19,849 25,531 1,777 113,056160,213 
Internal transfer expense (income)19,502 70,555 13,277 (103,334)— 
Income (loss) before income taxes$31,399 $129,052 $2,800 $(8,220)$155,031 
Return on average interest earning assets (pre-tax)
1.78 %2.02 %0.23 %N/A1.66 %
 Three Months Ended March 31, 2020
 Consumer
Lending		Commercial
Lending		Investment
Management		Corporate
and Other
Adjustments		Total
 ($ in thousands)
Average interest earning assets
$7,217,144 $22,782,284 $4,674,647 $—$34,674,075 
Interest income$68,255 $264,875 $31,769 $(1,106)$363,793 
Interest expense19,700 62,186 12,760 3,80898,454 
Net interest income (loss)48,555 202,689 19,009 (4,914)265,339 
Provision for credit losses6,785 27,139 759 —34,683 
Net interest income (loss) after provision for credit losses
41,770 175,550 18,250 (4,914)230,656 
Non-interest income14,677 15,599 3,142 7,97941,397 
Non-interest expense19,871 24,158 387 111,240155,656 
Internal transfer expense (income)20,335 64,196 13,175 (97,706)— 
Income (loss) before income taxes$16,241 $102,795 $7,830 $(10,469)$116,397 
Return on average interest earning assets (pre-tax)
0.90 %1.80 %0.67 %N/A1.34 %